Ann: December 2023 Quarter Production Update, page-13

HI dfi and others. Yes that was my take too. December is a disrupted month so I did not particularly expect a new record - not that production is up to scratch yet. However I do see that positive trend in progress even in a shortened December which is very encouraging.

Somebody wanted out despite the turn around and improvement in cash on the sale of the Li. The commentary from a conservative management was also excellent with the LOM plan delivering further improvements to come. I bought a second parcel back based on the dip today as I thought the fall was unwarranted. Good job management for sticking at this and getting (gradually on top). They have a good chance of hitting over 20koz this quarter so strip ratio is falling and so is cost on a per unit basis. If gold takes off it will be a massive improvement in their earnings.

Gold is really cheap in momentum terms. Many analysts would have you believe it is expensive; but in relative terms that is rubbish. I have done a lot of research lately on momentum and find the gold story compelling for a break in the coming 3 months at worst. This could be an explosive year for the gold stocks and sector performance does not suggest we have anyway near a top here. I am going to pass that research to GoldSilver Pros - so here goes nothing folks. The leading producers are still leading the way - NO sign of a top.

GLTAH CW